Being able to pay rent onlineis the safest and most convenient method for both tenants and landlords. If you’re still trekking all the way to your landlord’s office each month with a paper check, it’s time to get with the times and embrace the convenience of submitting your rent payment online. Still not convinced? Below are the top four reasons why you should embrace online rent collection.
#1: Better Security and Safety
The common misconception with online payments is that they are less secure than traditional methods. This is incorrect. In fact, with modern encryption and the requirements that governmental bodies have imposed on online payment processing, online transactions are extremely secure. If you commit to change your password often and maintain a high level of complexity for those passwords, the risk of your transaction becoming compromised is low.
Also, online rent collection makes it much easier for you to get your payment to your landlord on time. Especially for those with disabilities or illnesses, getting your rent payment to the right person at the right time can be difficult. With online payments, it doesn’t matter where you are, you are able to submit your payment right from your mobile device or computer.
#2: Recurring Payments
Are you still marking your calendar with reminders each month to pay your rent? If your landlord utilizes quality rent collection software, you no longer have to do so. Your rent payment platform most likely has the ability to set recurring payments, taking any direct action from you out of the equation. Each month, the amount you dictate will come straight from your bank account, credit, or debit card.
Alongside recurring payments, you usually will get payment reminders as well. Even if you have recurring payments on, when you receive a payment reminder a week or so before your rent due date, you can check your account to see if you have the amount owed available. That way, when the time comes for your property management software to deduct those funds, you can be sure you will not overdraft or have any remaining balance owed.
It’s important to keep in mind that if you pay rent through a P2P platform like Venmo, PayPal, or Zelle, you do not have this ability.
#3: Record-Keeping
Before online rent payments, you probably kept a spreadsheet or physical record of all your transactions and receipts. If you forget to collect those receipts or write down a payment or two, you’re out of luck. However, with online rent payments, all the receipt collection is done for you. Each transaction makes a digital receipt, and you can see the date and time that you paid rent each month. You create a sort of digital “paper trail” so you can go back and see your rent payment historyin depth.
#4: Settling Disputes
Since you have such detailed payment history at your fingertips, it’s much easier to settle any disputes that may arise with your landlord.
Sometimes your landlord may claim that you didn’t pay when you actually did, or you may think that you paid them when you actually didn’t. This is where your online records come in handy. That ledger makes it extremely clear who paid, how much, and when, so these disputes don’t need to escalate any further than necessary.
Also, if you use property management software, you’re able to see whether you have a remaining balance on your account. This feature should make it easier to tell whether you have anything owed after your initial payment.
Make the Switch
There should be nothing holding you back from committing to pay rent online. Although the initial switch may seem intimidating or difficult, in due time you will see that online rent payments are easier and much more efficient than taking the time to mail a check or walk over to your landlord’s office each month.
Also, online rent collection makes it much easier for you to get your payment to your landlord on time. Especially for those with disabilities or illnesses, getting your rent payment to the right person at the right time can be difficult. With online payments, it doesn’t matter where you are, you are able to submit your payment right from your mobile device or computer.
Also, online rent collection makes it much easier for you to get your payment to your landlord on time. Especially for those with disabilities or illnesses, getting your rent payment to the right person at the right time can be difficult. With online payments, it doesn’t matter where you are, you are able to submit your payment right from your mobile device or computer.
Also, online rent collection makes it much easier for you to get your payment to your landlord on time. Especially for those with disabilities or illnesses, getting your rent payment to the right person at the right time can be difficult. With online payments, it doesn’t matter where you are, you are able to submit your payment right from your mobile device or computer.
Also, online rent collection makes it much easier for you to get your payment to your landlord on time. Especially for those with disabilities or illnesses, getting your rent payment to the right person at the right time can be difficult. With online payments, it doesn’t matter where you are, you are able to submit your payment right from your mobile device or computer.
Also, online rent collection makes it much easier for you to get your payment to your landlord on time. Especially for those with disabilities or illnesses, getting your rent payment to the right person at the right time can be difficult. With online payments, it doesn’t matter where you are, you are able to submit your payment right from your mobile device or computer.
